Common use of Payments Etc Clause in Contracts

Payments Etc. (a) All payments under this Agreement shall be pro rata among the Lenders in accordance with their Percentages and shall be made by the Borrower, without defense, setoff, or counterclaim, to the Agent not later than 12:00 noon (New York time) on the date when due and shall be made in Dollars in immediately available funds at the Payment Office and any funds received by the Agent after such time shall, for all purposes of this Agreement, be deemed to have been paid on the next succeeding Business Day. The Agent shall thereafter cause to be distributed to the Lenders, on the Business Day when paid, in like funds their Percentage of payments so received. (b) Whenever any payment to be made hereunder or under the Promissory Notes shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (unless the relevant Interest Period expires on the next preceding Business Day pursuant to Section 2.7(iii), in which case the due date shall be the next preceding Business Day) and, with respect to payments of principal, interest thereon shall be payable at the applicable rate during such extension. (c) All computations of interest on the Advances shall be made on the basis of a year of (x) in the case of Advances on which interest is computed on the basis of the Eurodollar Rate, 360 days, and (y) in the case of Advances on which interest is computed on the basis of the Alternate Rate, 365/366 days, in either case for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest is payable.

Payments Etc. (a) All payments under this Agreement shall be pro rata rated among the Lenders in accordance with their Percentages and and, shall be made by the Borrower, without defense, setoff, or counterclaim, to the Agent not later than 12:00 noon (New York Chicago time) on the date when due and shall be made in Dollars in immediately available funds at the Payment Office and any funds received by the Agent after such time shall, for all purposes of this Agreement, be deemed to have been paid on the next succeeding Business Day. The Agent shall thereafter cause to be distributed to the Lenders, on the Business Day when paid, in like funds their Percentage of payments so received. In the event Agent fails to cause such funds to be distributed to any Lender on the same Business Day when paid (or deemed paid) to Agent, Agent shall pay interest to such Lender on such amounts at the Federal Funds Rate. (b) Whenever any payment to be made hereunder or under the Promissory Notes shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (unless the relevant a Eurodollar Rate Interest Period expires on the next preceding Business Day pursuant to Section 2.7(iii2.7(c), in which case the due date shall be the next preceding Business Day) and, with respect to payments of principal, interest thereon shall be payable at the applicable rate Applicable Rate during such extension. (c) All computations of interest on the Advances and fees due under Sections 2.19(b) and (c) shall be made on the basis of a year of (x) in the case of Advances on which interest is computed on the basis of the Eurodollar Rate, 360 days, and (y) in the case of Advances on which interest is computed on the basis of the Alternate Rate, 365/366 days, in either case days for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest or fees are payable. Each determination by Agent of an interest rate or fee hereunder shall, except for patent error, be final, conclusive, and binding upon Borrower for all purposes. (d) Prior to the occurrence of an Event of Default, all payments and prepayments under this Agreement shall be applied as follows: (a) first, to fees, expenses, costs and other similar amounts then due and payable to Agent and the Lenders, including, without limitation any prepayment premium, exit fee or late charges due hereunder, (b) second, to accrued and unpaid interest on the outstanding Advances, (c) third, to the payment of principal due in the month in which the payment or prepayment is payablemade, if any, (d) fourth, to any escrows, impounds or other amounts which may then be due and payable under the Loan Documents, (e) fifth, to any other amounts then due Agent and/or Lenders hereunder or under any of the Loan Documents, and (f) last, to the unpaid principal balance of the outstanding Advances in the inverse order of maturity. Any prepayment of Advances shall not extend or postpone the Maturity Date or reduce the amount of any subsequent monthly payment of principal and interest due hereunder. After an Event of Default has occurred and is continuing, payments may be applied by Agent to amounts owed hereunder and under the Loan Documents in such order as Agent shall determine, in its sole discretion.

Payments Etc. (a) All payments under this Agreement shall be pro rata among the Lenders in accordance with their Percentages and shall be made by the Borrower, without defense, setoff, or counterclaim, to the Administrative Agent not later than 12:00 noon (New York time) on the date when due and shall be made in Dollars in immediately available funds at the Payment Office and any funds received by the Administrative Agent after such time shall, for all purposes of this Agreement, be deemed to have been paid on the next succeeding Business Day. The Administrative Agent shall thereafter cause to be distributed to the Lenders, on the Business Day when paid, in like funds their Percentage of payments so received. Notwithstanding the foregoing, any payments received by the Administrative Agent after 12:00 noon (New York time) shall be distributed to the Lenders on the following Business Day. (b) Whenever any payment to be made hereunder or under the Promissory Notes shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (unless the relevant Interest Period expires on the next preceding Business Day pursuant to Section 2.7(iii2.4(iii), in which case the due date shall be the next preceding Business Day) and, with respect to payments of principal, interest thereon shall be payable at the applicable rate during such extension. (c) All computations of interest on the Advances unpaid principal amount of the Loan shall be made on the basis of a year of (x) in the case of Advances on which interest is computed on the basis of the Eurodollar Adjusted LIBO Rate, 360 days, and (y) in the case of Advances on which interest is computed on the basis of the Alternate Rate, 365/366 days, in either case for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest is payable.

Payments Etc. (a) All payments under this Agreement shall be pro rata among the Lenders in accordance with their Percentages and shall be made by the Borrower, without defense, setoff, or counterclaim, to the Administrative Agent not later than 12:00 noon (New York time) on the date when due and shall be made in Dollars in immediately available funds at the Payment Office and any funds received by the Administrative Agent after such time shall, for all purposes of this Agreement, be deemed to have been paid on the next succeeding Business Day. The Administrative Agent shall thereafter cause to be distributed to the Lenders, on the Business Day when paid, in like funds their Percentage of payments so received. Notwithstanding the foregoing, any payments received by the Administrative Agent after 12:00 noon (New York time) shall be distributed to the Lenders on the following Business Day. (b) Whenever any payment to be made hereunder or under the Promissory Notes shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (unless the relevant Interest Period expires on the next preceding Business Day pursuant to Section 2.7(iii), in which case the due date shall be the next preceding Business Day) and, with respect to payments of principal, interest thereon shall be payable at the applicable rate during such extension. (c) All computations of interest on the Advances shall be made on the basis of a year of (x) in the case of Advances on which interest is computed on the basis of the Eurodollar LIBO Rate, 360 days, and (y) in the case of Advances on which interest is computed on the basis of the Alternate Rate, 365/366 days, in either case for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest is payable.